| Decision | Consent granted Section 12(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 24 June 2025 |
| Pathway | Sensitive land - Farm land benefit test |
| Investment | Acquisition of a freehold interest in approximately:
|
| Consideration | $7,555,000 |
| Applicant | Roc Apple PropCo Pty Ltd Australia 100% |
| Vendors | Ash Trustee Company Limited, Carl Tyler Knapp & Marianne Jane Knapp as trustees of the M and C Knapp Family Trust Bruce James Wattie |
| Background | The Applicant is an Australian private equity fund specialising in agricultural investments. The Applicant has partnered with ENZAFruit New Zealand International Limited (ENZAFruit), a wholly owned subsidiary of T&G Global Limited, to purchase 2 apple orchards in the Hawkes Bay and subsequently lease them to ENZAFruit (decision summary 202500207). ENZAFruit will redevelop the land, which is currently mostly planted in older varieties of apples and will replant and grow Envy and/or Joli apples. The main benefits to New Zealand are likely to include substantial economic benefit through increased capital expenditure of $17.7 million, increased productivity and increased export receipts. Consent was granted as the Applicant met the investor test criterion and the investment is likely to benefit New Zealand. |
| More information | Rachael O'Malley Russell McVeagh (Auckland) PO Box 8 Auckland 1140 |